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Monday, June 09, 2014

Wearable Tech for Animals Market to Reach $2.6 Billion

Wearable technology for humans is already somewhat in vogue. What's next? Wearable tech applications for animals -- from ultrasound-delivering treatment patches and electronic saddle optimization for horses to collars on many other animals that variously track, identify and diagnose.

The new market study by IDTechEx explored the needs, technologies and markets of wearable electronics for livestock, pets and wild animals.

Their study findings forecast that the global market, incorporating both RFID and non-RFID technologies, will reach $2.6 billion in 2025. The research analyzes in detail six application markets sectors.

IDTechEx research predicts that during the next decade expenditure on medical diagnosis devices will increase in value market share from 11 percent to 23 percent and medical treatment (such as heating, cooling, ultrasound and drug delivery) will increase from a mere 1 percent to 13 percent.

According to the IDTechEx assessment, we are in the decade of wearable tech for animals being used for an addressable market of 22 billion human-controlled animals, but the decade may end with a rapid rise in tracing and treating endangered species -- that's likely to be in the billions yearly.

Some RFID tagging will be subsumed by diagnostic devices that look the same, such as newly available stomach boluses, collars and implants.

The demand originates in two directions, from requiring tagging of many forms of livestock in certain jurisdictions for disease control and quality improvement to some seeking to ban sale of inhumane dog training collars that administer electric shocks.

As an example of typical use cases, cameras on pets are surprisingly popular and a dog's bark can now be interpreted and radioed to the owner when away.

Moreover, the number of protected fish tagged already runs into millions, tagging racing pigeons is a big business too and even bees are already being tagged nowadays.

The resulting comprehensive market study report has many other surprises, warnings, predictions and lessons from its deep analysis -- which includes a comparison of 141 manufacturers.